TALLINN, ESTONIA (May 21, 2018) – A new European company has found a way to unleash the true potential of digital assets. Depository Network (DEPO) has developed independent loan collateral architecture for the cryptocurrency age.
DEPO founders began by asking why assets have changed but loan collateral has not. Despite cryptocurrency being a strong asset that continues to grow, lenders have still not found a way to accept it as collateral. Until now.
Following a similar model as traditional depository services, DEPO gives lenders the freedom to accept digital assets as loan collateral. The platform also allows borrowers to keep ownership of their digital asset during the entire loan period. The platform also protects future financial gain of the asset for borrowers with its decentralized design.
By employing the DEPO platform, lenders will be able to accept cryptocurrency as collateral for loans. To be protected, lenders can request additional collateral, or a partial sale of the asset should the market become excessively volatile at any time during the loan period.
Borrowers can turn their digital assets into real-world collateral to secure traditional loans. The process is simple. Customers locate a trusted lender and select the option that permits digital assets to act as collateral. After the contract is signed, the digital asset is deposited to DEPO. By depositing their cryptocurrency with DEPO, borrowers can gain access to cash and also preserve the future earning potential of their digital assets.
DEPO will have the potential to serve 30,000 non-bank lenders and over 17,500 banks around the world. Peer-to-peer lending platforms will also be welcome to use DEPO’s services.
The blockchain collateral architecture offers users access to high tech infrastructure, full support and order execution, a cost-efficient platform and full integration with lender’s websites.
DEPO is preparing for an ICO in the third quarter of 2018 and an official Alpha Launch date in 2019.
About Depository Network
DEPO came together in 2017 when experienced legal, technical and financial minds united. Co-founders include Svetoslav Dimitrov, Deliyan Nikolov, Ivo Gueorguiev, Valeri Valtchev, and Dimitar Kostov. The company is positioned at the forefront of the cryptomarket, which has unlimited potential.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.